There is uncertainty about exchange rate policy as competitive devaluation rears its head. Macroeconomics seeks to put clarity and understanding in the grasp of the student through its careful and vivid exploration of the tension between self-interest and the social interest, the role and power of incentives—of opportunity cost and marginal benefit—and demonstrating the possibility that markets supplemented by other mechanisms might allocate resources efficiently.
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Parkin students begin to think about issues the way real economists do and learn how to explore difficult policy problems and make more informed decisions in their own economic lives. And rarely are the principles of economics more surely needed to provide the solid foundation on which to think about economic events and navigate the turbulence of economic life.
But at some times, and now is one such time, the range of possible near-future events is enormous. Rarely do teachers of economics have such a rich feast on which to draw. Even the idea that the market is an efficient mechanism for allocating scarce resources came into question as some political leaders trumpeted the end of capitalism and the dawn of a new economic order in which tighter regulation reigned in unfettered greed.
There is uncertainty about the way in which international trade policy will evolve as protectionism is returning to the political agenda.
There is extraordinary uncertainty about monetary policy with the Fed having doubled the quantity of bank reserves and continuing to create more money in an attempt to stimulate a flagging economy.
And there is uncertainty about fiscal policy as a trillion dollar deficit interacts with an aging population to create a national debt time bomb. Since the subprime mortgage crisis of August moved economics from the business report to the front page, justified fear has gripped producers, consumers, financial institutions, and governments.
The major source of this great uncertainty is economic policy.PART III MACROECONOMICS I MACROECONOMIC BASICS 24 Economic Growth, Business Cycles, and Unemployment 25 Measuring and Describing the Aggregate Economy II POLICY MODELS 26 The Keynesian Short-Run Policy Model: Demand-Side Policies 26W The Multiplier Model Find great deals on eBay for macroeconomics 10e.
Shop with confidence. Learn for free about math, art, computer programming, economics, physics, chemistry, biology, medicine, finance, history, and more. Khan Academy is a nonprofit with the mission of providing a free, world-class education for anyone, anywhere. Macroeconomics / Edition 10 Colander’s Economics 10e is specifically designed to help today’s students succeed in the principles of economics course and grasp economic concepts they can apply in Price: $ 8 Parkin · Macroeconomics, Tenth Edition 25) The short-run aggregate supply curve A) shows what each producer is willing and able to produce at each level of income.
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